Slide 1: Enersis 1Q 2015 Results
Enersis 1Q 2015 Results April 29, 2015
Slide 2: Highlights
1Q 2015 results Highlights Enersis Investor Relations Enersis’ Board of Directors has decided to evaluate a possible corporate reorganization 1Q15 EBITDA increased by 27% reaching 840 mnUSD Net income attributable to Enersis’ controlling Shareholders increased by 99% reaching 245 mnUSD Bocamina II s
Slide 3: Latin America reorganization initiative
1Q 2015 results Latin America reorganization initiative Enersis Investor Relations Current Structure Proposed reorganization Enel SpA Enel SpA 100% 100% Enel Iberoamérica 60.6% Enel Iberoamérica Enersis 60.6% >50.0% 99.1% 60.0% Enersis Enersis Chile Américas Endesa Chilectra Chile 99.1% 60.0% ARG BR
Slide 4: Consolidated results (US$ mn)
1Q 2015 results Consolidated results (US$ mn1) Enersis Investor Relations Revenues EBITDA 19% 27% 3,003 840 2,516 663 1Q 14 1Q 15 1Q 14 1Q 15 Group net income Net debt2 99% 1% 245 3,175 3,156 123 1Q 14 1Q 15 FY 14 1Q 15 1. Comparisons between periods are made using US dollars. The average exchange r
Slide 5: Regulation – relevant updates during the period
1Q 2015 results Regulation – relevant updates during the period Enersis Investor Relations • Dx: • MMC and other adj.: During January 2015. EBITDA impact:~ +70 US$mn . Argentina • Resolution 32: Since February 1st . It will cover current expenses of operation and maintenance. EBITDA impact: ~ +80 US
Slide 6: Group EBITDA evolution (US$ mn)
1Q 2015 results Group EBITDA evolution (US$ mn1) Enersis Investor Relations +26.7% +148 840 +59 +12 663 - 27 -14 1Q 14 Chile Brazil Colombia Peru Argentina 1Q 15 1. The average exchange rate for the period January – March 2015 was 624.74 CLP/USD. 6
Slide 7: Group EBITDA analysis (US$ mn)
1Q 2015 results Group EBITDA analysis (US$ mn1) Enersis Investor Relations By Country By business Colombia 270 Brazil 32% 24% 198 Distribution Generation 840 53% 840 47% 9% 19% Argentina Chile 16% 76 164 Peru 132 All countries contributing to EBITDA 1. The average exchange rate for the period Januar
Slide 8: From EBITDA to Group net income (US$ mn)
1Q 2015 results From EBITDA to Group net income (US$ mn1) Enersis Investor Relations 840 634 -205 +9 -121 370 -152 245 attributable to owners EBITDA D&A EBIT Financial Others Income tax Group Net Result Income The average exchange rate for the period January – March 2015 was 624.74 CLP/USD. Original
Slide 9: Capex (US$ mn)
1Q 2015 results Capex (US$ mn) Enersis Investor Relations By activity By business By country Brazil Maintenance Networks 20% 67% 62% 37% Argentina 390 390 390 17% 38% 33% Colombia Generation 12% 14% Other Growth Chile Peru •Intensive maintenance of our assets, especially in Generation. •~2/3 of Cape
Slide 10: Net free cash flow and net debt (US$ mn)
1Q 2015 results Net free cash flow and net debt (US$ mn) Enersis Investor Relations 840 +185 762 -92 -171 -390 174 +18 -198 -210 -19 1 EBITDA Taxes NWC + Financial FFO Capex Dividends Free Cash Extr. FX Effect Change in Others Expenses Flow Operations Net Debt 1. Including minorities 10
Slide 11: Financial debt
1Q 2015 results Financial debt Enersis Investor Relations Average cost of gross debt Average residual maturity (years) 6.3 6.4 8.1% 8.3% 8.3% 5.5 2013 2014 1Q 15 2013 2014 1Q 15 Net debt (US$ MM) Debt profile (US$ MM) 3,686 3,156 3,175 401 807 591 2015 2016 2017 2018 and 2014 1Q 15 beyond 11
Slide 12: Exhibits
Enersis Investor Relations Exhibits 12
Slide 13: Operating Exhibits 1Q 2015: Business context
Operating Exhibits 1Q 2015 Business context in 1Q 2015 v/s 1Q 2014 Enersis Investor Relations Electricity Demand Spot Price Gx Output Dx Sales Gx Ebitda Dx Ebitda (%) (US$/MWh) ( TWh ) ( TWh ) ( MM US$ ) ( MM US$ ) 1Q 2014 3.6% 1Q 2014 179.3 1Q 2014 4.1 1Q 2014 3.8 1Q 2014 49.3 1Q 2014 58.9 - 5.2% +
Slide 14: Net installed capacity by source and geography
Operating Exhibits 1Q 2015 Net installed capacity: Breakdown by source and geography Enersis Investor Relations MW Hydro Oil-Gas Coal NCRE Total Chile 3,456 2,173 636 87 6,351 Colombia 2,615 208 236 0 3,059 Peru 776 1,193 0 0 1,970 Brazil 665 322 0 0 987 Argentina 1,328 3,194 0 0 4,522 Total 8,841 7
Slide 15: Total net production by source and geography
Operating Exhibits 1Q 2015 Total net production: Breakdown by source and geography Enersis Investor Relations MWh Hydro Oil-Gas Coal NCRE Total Chile 2,308 1,683 241 40 4,272 Colombia 2,904 4 288 0 3,196 Peru 1,349 899 0 0 2,248 Brazil 589 618 0 0 1,207 Argentina 565 3,376 0 0 3,940 Total 7,715 6,58
Slide 16: Production mix (GWh)
Operating Exhibits 1Q 2015 Production mix (GWh) Enersis Investor Relations LatAm Chile Colombia +5.2% +7.5% +6.5% 4,062 4,272 2,974 3,196 13,957 14,864 0.4% 4.7% 3.6% 0.3% 1.3% 5.6% 0.9% 7.3% 10.7% 9.0% 0.2% 0.1% 42.0% 44.3% 39.4% 32.8% 92.4% 90.9% 53.0% 51.9% 55.2% 54.0% 1Q 14 1Q 15 1Q 14 1Q 15 1Q
Slide 17: Distribution companies
Operating Exhibits 1Q 2015 Distribution companies Enersis Investor Relations Current Energy sold Energy Concession regulatory Next tariff Distributor Clients City, Country (GWh) losses (%) area (km2) return (pre-tax, revision real) Chilectra 1,750,585 3,918 5.4% Santiago, Chile 2,105 ROA 10% 2016 Co
Slide 18: Debt structure, liquidity and credit profile
Operating Exhibits 1Q 2015 Debt structure, liquidity and credit profile Enersis Investor Relations Debt structure (US$ mn) Dec. 14 Mar. 15 % Long-term 5,421 4,958 -8.5% Short-term 695 652 -6.3% Cash 2,960 2,434 -17.7% Net debt 3,156 3,175 0.6% Liquidity (US$ mn) Amount Outstanding Available Committe
Slide 19: Disclaimer
1Q 2015 results Disclaimer Enersis Investor Relations This presentation contains statements that could constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements appear in a number of places in this announcement and include stat
Slide 20: IR Team
1Q 2015 results IR Team Enersis Investor Relations • Pedro Cañamero, Head of IR +56 2 2353 4682 • Denisse Labarca +56 2 2353 4576 • Jorge Velis +56 2 2353 4552 • Manuel Aragón +56 2 2353 4681 • Carmen Poblete +56 2 2353 4447 • María Luz Muñoz +56 2 2353 4682 ir@enersis.cl For further information, vi
Slide 21: enersis
enersis